Brazilian FDI into Malaysia surges

Reading Time: 1minuteEike Batista, Brazil’s richest man and head of EBX Group

EBX Group, one of the largest industry conglomerates in Brazil, has committed itself to a $6 billion direct investment in Malaysia, the office of Malaysia’s Prime Minister Datuk Seri Najib Razak said after a meeting took place between Najib and EBX Group chairman Eike Batista on August 9 in Putrajaya, Malaysia’s federal administrative centre.

The group will work with Malaysian authorities “to expeditiously identify and implement” projects in the country, the statement said, without specifying the nature of the projects which are most likely in the energy, natural resources and oil sectors.

EBX Group, based in Rio de Janeiro, has business interests in mining, logistics, oil and gas, real estate, energy, renewable resources and entertainment sectors. The group’s head Eike Batista is Brazil’s wealthiest man with a net worth of $30 billion, making him also the seventh wealthiest business person in the world, according to Forbes magazine.

The investment is reportedly tied to a long-term energy security programme between both countries, whereby Malaysia would have a secured supply of energy resources. This has been discussed during a telephone conversation between Brazil’s President Dilma Rousseff and Najib during the meeting, Malaysian news agency Bernama said.

In return, Malaysia would be granted exclusive exploration and production operating rights jointly with EBX Group in Brazil. Malaysia’s national oil and gas giant Petronas will send a team to Brazil in September, according to the statement of the prime minister’s office.

Foreign direct investment in Malaysia rose 16 per cent in 2011 to $117 billion, the government has said in an earlier report.

Reading Time: 1minuteEike Batista, Brazil’s richest man and head of EBX Group

EBX Group, one of the largest industry conglomerates in Brazil, has committed itself to a $6 billion direct investment in Malaysia, the office of Malaysia’s Prime Minister Datuk Seri Najib Razak said after a meeting took place between Najib and EBX Group chairman Eike Batista on August 9 in Putrajaya, Malaysia’s federal administrative centre.

The group will work with Malaysian authorities “to expeditiously identify and implement” projects in the country, the statement said, without specifying the nature of the projects which are most likely in the energy, natural resources and oil sectors.

EBX Group, based in Rio de Janeiro, has business interests in mining, logistics, oil and gas, real estate, energy, renewable resources and entertainment sectors. The group’s head Eike Batista is Brazil’s wealthiest man with a net worth of $30 billion, making him also the seventh wealthiest business person in the world, according to Forbes magazine.

The investment is reportedly tied to a long-term energy security programme between both countries, whereby Malaysia would have a secured supply of energy resources. This has been discussed during a telephone conversation between Brazil’s President Dilma Rousseff and Najib during the meeting, Malaysian news agency Bernama said.

In return, Malaysia would be granted exclusive exploration and production operating rights jointly with EBX Group in Brazil. Malaysia’s national oil and gas giant Petronas will send a team to Brazil in September, according to the statement of the prime minister’s office.

Foreign direct investment in Malaysia rose 16 per cent in 2011 to $117 billion, the government has said in an earlier report.